Los Angeles daily herald., 1887-07-25
REAL ESTATE.
A Very Good Showing for the Pas
WanR

1
ent firms, and everything tends +
show the boom is not on the wing, bu
has come to stay. Each day Easter
capital is finding its way into Los An
lgeles, and from present appearance
the activity of the market is likely t,
Icontinue for some time to come. Unit
recently public attention has not beer
turned toward seaside property, for the
treason that land owners would not sell
or had not the advancement or inn
provement of the place at heart. During
the past week Long Beach has attracted
considerable notice, and an unusual
number of transfers have been made
in that locality. A syndicate of capi
talists, headed by Mr.. Edward Records,
of Los Angeles, has secured the title
to the entire unsold part of Long Beach
atownsite, and several hundred acres
of adjoining lands. 1t is their inten-
ton to at once place the property on
) the market, after it is graded and put
I in condition to command the atten-
ton of local buyers. During the past
week the real estate sales aggregated
So, 145,6 ,62l. On last Tuesday 1920, 493
worth of property changed hands,
(which was the largest days sale of the
week. Property has not taken jump
in value, but has increased steadily.
The buying of tracts, the mar
keting of unimproved small
property, and the steady withhold
ing of improved real estate
wherever located has been the prin-
cipal feature of the week. The with
holding of improved property is very
significant to the careful observer
The old resident and property
owner who is familiar with the coun-
try and values in general, is 10th to
part with his interests at any price.
He appreciates the fact that land is
likely to enhance in value for some
time and hence taking practical
view of the situation he invariably
holds on to his property. On Satur-
day evening one of the most import
ant sales of the season came off. The
Mairs' tract, situated between Seventh
and East Eighth and Wolfskill streets
was sold in subdivisions bringing over
$71 ,000 The sale attracted consider
able attention and Armory Hall where
the auction was held was crowded
with a tn. ong of interested and spir-
tied bidders. Good prices were OBJ
tanned for all the lots and the price
obtained for the tract is far in advance
of the owners expectations. During
the past month, and particularly dur
ing the past week, no part of the city
has developed to such noticeable ex-
tent as the locality situated between
Main street and the river and from
First street south to Washington. 1t
has been nearly settled that the
Southern Pacific passenger depot is to
be built on the Wolfskill tract. As a
consequence considerable interest is
taken in surrounding property, and
values are steadily advancing with the
demand for lots. During the past
week the Coronel place, north of
Seventh street and adjoining the
Wolfskill place was sold to James
B. Lankershim for $4,000 per
acre. 1t is to be divided up in the
near future and disposed OF in subdi-
visions. Surveyors are at work ON the
Kohler 4 Frohling place, and it is also
to be subdivided and sold. A very
important contract was signed on Fri
day, providing for the extension of
Central avenue from Eighth street to
Seventh street. This avenue is eighty
feet wide, and with this extension
will undoubtedly prove the principal
thoroughfare east of Main street, ex-
tending from the northern extremity
of the Wolfskill place at Third street
straight south for a distance of four
miles. The extension from Eighth to
Seventh has been effected by the ded-
ication to the city of forty feet each
| from the Mairs tract and the Kohler
q Frohling tract, and for that portion
of the ground belonging to A. f. Cor
onel that gentleman dedicates one
half and the other half is purchased
for the same purpose by the owners of
the Mairs and Kohler q Frohling
places at the rate of $4,000 per acre.
This not only opens up these two
tracts to great advantage, but will
prove a great benefit to all property in
that section of the city. Lots on
Central avenue will doubtless prove
even more valuable than ON Alameda
or San Pedro streets, as no steam
railway line will run on that thorough
fare. The Los Angeles and Vernon
Street Railway line will pass along
this street from the center of the city
to Vernon District, and the names of
the incorporators, Messrs. j. ID. Bick-
nell, Frank A. Gibson, G.. f. Day, ID.
G. Stephens, f. T. Wright and f. F.
Kysor, are a guarantee that the road
will be built within the period fixed
by the charter. Lots on Central ave-
nue. as far out as Washington street
lin the Kasper Cohn tract have sold
at $1,000. The country market
is also very active and many
lots have been sold during
the past week in several of the new
town sites which have but recently
been laid out. Anaheim town lots
have appreciated, on an average, 20
per cent. since last May. Anaheim
property is good buy at ruling figures,
when the fact of the advent there of
the Santa Fe is considered, and when
it is known that fine hotel is to be
built in the city, and Anaheim Land
ing, a natural seashore resort, is to be
improved and beautifed. New streets
are being laid out, new buildings are
going up and general air of prosper
ity pervades the townsite of the Mother
Colony.
Numerous investments have been
made in Lordsburg. The fact that a
$50 600 hotel is shortly to he huilt
there, has attracted numerous buyers,
and sales have been rather active dur
ing the week.